Mr. Powell is set to speak on Friday at 10 a.m. ET as part of the Federal Reserve Bank of Kansas City's annual Jackson Hole economic symposium. The event was moved last week to an all-online format because of the rising risks around the coronavirus pandemic.

Biden to Hold Cybersecurity Summit With Tech Giants, Top Banks, Energy Firms

WASHINGTON-President Biden is expected to host executives from major technology, financial and energy companies on Wednesday for a summit on national cybersecurity, a gathering that comes amid heightened fears about proliferating disruptive attacks on American businesses and infrastructure.

Top Silicon Valley chief executives, including Apple Inc.'s Tim Cook, Amazon.com Inc.'s Andy Jassy, Microsoft Corp.'s Satya Nadella and Alphabet Inc.'s Sundar Pichai are scheduled to attend the White House meeting, according to a list of participants shared by an administration official. Also expected are JPMorgan Chase & Co. CEO Jamie Dimon and Brian Moynihan, president and CEO of Bank of America Corp., among other representatives of the financial industry.

Chinese Factories Are Having Labor Pains-'We Can Hardly Find Any Workers'

Labor shortages are materializing across China as young people shun factory jobs and more migrant workers stay home, offering a possible preview of larger challenges ahead as the workforce ages and shrinks.

With global demand for Chinese goods surging this year, factory owners say they are struggling to fill jobs that make everything from handbags to cosmetics.

Privacy Law Will Help China Flex Muscles on Digital Trade

China's new privacy law outlines Beijing's mandate to shape global discussions about data protections, giving the government greater power to scrutinize how companies transfer information abroad.

Infrastructure Bill's Cryptocurrency Measures Risk Pushing Criminals Further Underground

WASHINGTON-Tucked into a sweeping bipartisan infrastructure bill that passed the Senate earlier this month are measures intended to help provide what many officials say is badly needed regulation of the burgeoning cryptocurrency industry.

But some industry and national-security officials warn that the proposal could unintentionally push illicit cryptocurrency transactions into markets where the U.S. government has no reach, adding to the threat to American companies, government agencies and individuals.

House Passes $3.5 Trillion Budget Blueprint, Sets Deadline for Infrastructure Bill

WASHINGTON-The House narrowly passed a measure approving a $3.5 trillion budget blueprint and locking in a late September vote on a roughly $1 trillion infrastructure bill, ending a standoff between centrist Democrats and party leaders over their legislative agenda.

Tuesday's passage of the $3.5 trillion budget framework in a 220-212 vote unlocks a process, known as reconciliation, allowing Democrats to pass a broad package of healthcare, education and climate provisions in the Senate without GOP support, so long as all 50 senators in the Democratic caucus back it. The Senate passed the same budget blueprint earlier this month, and lawmakers are already working on drafting detailed legislation.

World Bank Freezes Aid to Afghanistan

WASHINGTON-The World Bank suspended funding for dozens of projects in Afghanistan Tuesday, citing questions over the legitimacy of Taliban rule.

The Washington-based institution has committed around $5.3 billion for reconstruction and development projects in Afghanistan since 2002 through its International Development Association that helps the world's poorest countries.

Biden Maintains Deadline for Afghan Pullout as Taliban Block Airport Access

President Biden said the U.S. is on pace to leave Afghanistan by Aug. 31, warning of growing security risks and describing a tenuous situation on the ground, as the Taliban said they would prevent Afghan citizens from reaching Kabul's airport to board evacuation flights.

"The sooner we can finish, the better. Each day of operations brings added risk to our troops," Mr. Biden said at the White House on Tuesday.

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(END) Dow Jones Newswires

08-25-21 0603ET